Novo to probe high grade NSW gold targets | Australian Markets

Novo Resources will launch a 2000-metre reverse circulation drill program this month at Tibooburra in northwestern New South Wales to check high grade gold outcomes from soil and rock chip geochemistry and different exploration.

Recent floor sampling on the company’s Clone prospect produced outcomes of 89.6 grams per tonne (g/t) and 41.9g/t gold in mullock round outdated workings and 31.4g/t and 10.4g/t gold from quartz vein outcrop alongside a 700m strike.

Three weeks of complete soil sampling and mapping over a 3 kilometre regional structural strike has outlined anomalism above 30 components per billion (ppb) gold. The best responses have been 1585ppb and 1440ppb gold within a 600m long, 200m large space within the southeastern finish of the soil grid.

Solid signatures have been additionally outlined alongside a 500m fault-parallel strike on the northwestern finish of the grid, the place pattern spacing stays more open at 20m by 80m. At the primary anomaly, the soil grid was closed down to 20m by 40m pattern spacing.

Novo’s mapping has additionally highlighted the west-dipping Clone Thrust, which the company believes is related to high-grade gold mineralisation and important sericite-carbonate alteration.

Both gold anomalies are centred on a persistent northwest-southeast structural development that transects the Clone prospect and seems to be half of or within the affect of the New Bendigo Fault. The fault runs via the northern half of Novo’s foremost tenement block in an open sinuous development for not less than 30km.

The foremost fault hall and its related parallel buildings are cross-cut by a number of parallel north-northeast/south-southwest trending short faults that would offer a number of plumbing systems and/or depositional websites for mineralisation.

As of late final 12 months, the Tibooburra ground has been half of a three way partnership and farm-in between Manhattan Corporation and Beatons Creek Gold, a wholly-owned subsidiary of Novo Resources, the place Novo will discover Manhattan’s northern tenements that comprise the Tibooburra gold project.

The settlement with Manhattan grants Novo an option to purchase a 70 per cent curiosity within the Tibooburra ground, subject to expenditure circumstances.

The project covers about 66km of underexplored gold-mineralised strike and has important gold potential.

Tibooburra is a standout exploration alternative due to earlier high-grade drilling outcomes and compelling exploration upside. The program we have now developed will check a number of precedence gold targets recognized via our lately accomplished three-week reconnaissance program. The the rest of 2025 is set to be a busy 12 months exploration-wise for Novo.

Manhattan drilled 10 reverse circulation holes on the Clone prospect in 2023 which demonstrated high-grade gold mineralisation alongside more than 250m of strike, to a most depth of 75m and increasing south alongside a development interpreted to proceed for a additional 700m.

Significantly, each gap nailed important gold mineralisation, together with a 31m run grading at 1.29g/t gold from 60m that included 3m at 6.52g/t gold.

Three different stable intercepts delivered 6m at 4.22g/t from 66m, together with 2m at 11.65g/t, 7m at 7.23g/t from 81m, together with 3m at 16.1g/t, and 9m at 6.03g/t gold from 16m.

Manhattan highlighted a number of targets, together with New Bendigo, Clone, Pioneer, Elizabeth Reef and Good Friday, however aside from the New Bendigo prospect, little systematic trendy exploration has been undertaken.

More than 200 historic workings have been outlined at Tibooburra on a number of traces of diggings over 34km of interpreted mineralised trends.

At Clone, intensive historic workings exist over more than 450m of strike and between 20 and 40m depth.

The Clone ground stays notably underexplored and displays mineralisation that’s open in all instructions and trends additional to the south.

Interpretation of distant sensing imagery reveals intensive sedimentary cowl, notably within the south, for not less than a additional 15km alongside the potential goal hall, leaving a lot of scope for future exploration to uncover potential ‘blind’ deposits.

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